Posts tagged GE

Twenty-three of the 80 union locals that represent more than 15,000 General Electric workers across the country have voted to ratify a tentative agreement with the company. In fact, no union locals have voted to reject it, said Stephan Koller, spokesman for GE Transportation. It’s clear, however, that not everyone is enthusiastic about the four-year…

GE Transportation and its recent 150-locomotive order to Pakistan was featured in a story in today’s Wall Street Journal about the Export-Import Bank of the U.S. The bank backed the $477 million Pakistan deal, which was crafted with the help of the White House. The point of the story was less about the locomotives and…

Owners of Erie’s most widely held stock got some good news today. The General Electric Co. has raised its quarterly divided by 17 percent from 12 cents to 14 cents per share. That marks the second time this year that the company has boosted its dividend. The Fairfield, Ct.-based company has been able to raise…

Lorenzo Simonelli, chief executive of Lawrence Park-based GE Transportation, is expected to be on hand at 11 a.m. today for a ceremonial groundbreaking for a new Habitat for Humanity home being built by GE volunteers. Stephan Koller, a spokesman for the company, said the house being built at 1202 E. 22nd St., should be ready…

Shares of General Electric Co. are up more than 4 percent today on news that the company is planning to increase its dividend in 2011. Chief Financial Officer Keith Sherin told analysts at a conference Tuesday that the company is “not putting a number on it, but we do expect to grow the dividend in…

General Electric Co. this afternoon released the following: FAIRFIELD, Conn. — GE’s on-line annual report 2009 titled “Renew” is now available on the Company’s Web site at www.ge.com/annualreport. The report focuses on the Company’s solid 2009 performance amid continued global economic pressure and its execution against four strategic priorities: keeping GE safe and secure; executing…

General Electric Co. said Friday that Chief Executive Jeffrey Immelt did not receive 2009 bonus, the second straight year he gave up extra pay as the industrial and financial conglomerate struggled with one of its worst years on record, according to the Associated Press. However, GE did not leave Immelt empty-handed. He was paid a…

GE Transportation announced this morning that it had received an order for 100 locomotives from South Africa. It is one more in a — thankfully — growing list of orders for our largest employer. The new orders hint that a recovery of sorts is at hand, albeit a slight one. Here is the full text…

Canadian National Railway said Wednesday it has ordered 70 new locomotives — 35 of them from Erie-based GE Transportation, according to the Associated Press. Terms were not disclosed. The order was with GE Transportation and Electro-Motive Diesel Inc. CN said it will acquire 35 ES44DC locomotives from GE starting in the fourth quarter of 2010,…

Lawrence Park-based GE Transportation, which recently announced plans to lay off 1,480 employees, reported a third-quarter profit of $177 million, down 31 percent compared to the same quarter of 2008. The company’s transportation division, which saw revenues fall 23 percent to $970 million, reports that base costs have been slashed by 20 percent. Those figures…